The NHL and NHL Players' Association have set this season's escrow rate at 10 percent, both sides confirmed to ESPN.com on Thursday.

That means players will fork over 10 percent of every paycheck into an escrow fund until both the league and NHLPA figure out the final numbers next summer or next fall in terms of hockey related revenue.

If players' compensation does not go more than their 50 percent HRR allotment for the season, they will get refunded the escrow payments with interest.

However, if the players' compensation exceeds the 50 percent share, the owners will be paid the escrow money.

The sides will continue to review revenues and revenue projections throughout the season to determine whether or not the escrow percentage coming off player checks needs to be changed.